Indiana Code 16-22-7-40. Audit of funds; bond of officers and employees
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Terms Used In Indiana Code 16-22-7-40
- authority: means the hospital association created by section 5 of this chapter. See Indiana Code 16-22-7-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 40. The state board of accounts may supervise and audit the funds of the authority. Any officer or employee of the authority authorized to receive or disburse funds or negotiable securities of the authority shall execute a bond of a surety or guaranty corporation qualified to do business in Indiana and payable to the state in an amount determined by the board. The bond must be conditioned upon the faithful performance of the officer’s or employee’s duties and the accounting for all money and property under the officer’s or employee’s control. The cost of bonds shall be paid by the authority. The records of the authority are public records.
[Pre-1993 Recodification Citation: 16-12-20.5-25.]
As added by P.L.2-1993, SEC.5.